Here are your top news stories in the world of AI and Data Science...
Healx secures $56M in Series B funding
The UK technology company which specialises in treatments for rare diseases will use the money for the development of 40 new rare disease projects and speed up the progress of Healx’s 10 existing programmes, one of which is in clinical trials.
Not your usual business model within the world of AI-led drug discovery. Instead of looking for new products, Healx is using its technology to find cures for rare diseases among existing, mainly off-patent, drugs.
Their data-driven approach has significantly cut development times, with targets typically moving into clinical trials within 24 months. It also means that the group can rapidly scale drug development, hence the ambitious-looking target of 40 new programmes.
AI spending in Asia set to pass $6B mark
That is almost a 54% increase from last year!
According to IDC findings, investments on AI systems is expected to increase to $21.4 billion by 2023, driven by “aggressive” market spending at customer-level.
“AI is having an impact across many industries with widespread utilisation but is still at a nascent stage in Asia Pacific,” said Ritika Srivastava, associate market analyst, IDC.
“Banking will predominantly use AI and cognitive systems for fraud analysis and investigation, as well as automated customer service agents,” IDC stated.
“Close behind is retail in terms of investments in AI-enabled solutions with use cases such as expert shopping advisors and product recommendations and merchandising for omni-channel operations - shaping the industry, representing 45.1 per cent of the overall retail industry spend in 2019.”
New US centre set to accelerate the use of artificial intelligence in radiology and medical imaging.
Launched by UC San Francisco (UCSF), the aim is to develop artificial intelligence tools to evaluate health and disease.
UCSF researchers will partner with engineers from NVIDIA to apply computational resources and build clinical AI tools that integrate seamlessly with routine care.
“Breast cancer affects every woman’s life, either directly or indirectly,” said Bonnie Joe, MD, PhD, professor of radiology and chief of breast imaging in the department. “The impact of AI is magnified through its application to breast imaging. Augmenting the radiologist’s ability to detect breast cancer early will help us make a dent in this deadly disease.”
Researchers expect that collaboration will advance care delivery for cancer patients.
The United States is the most lucrative country for coders.
Stack released the latest iteration of its Overflow Salary Calculator for coders and a corresponding study that shows that salaries in the US continue to outpace those found anywhere else.
The salaries are calculated based on a variety of factors ranging from location and education level to years of professional coding experience, the kind of coding work you do and the technologies you use professionally.
Surveyed countries include Canada, France, Germany, United Kingdom, and the United States, Australia, Brazil, India, Italy, Netherlands, Poland, Russia, Spain, Sweden.
Coders in a variety of positions were far more likely to reach salaries of $100,000 or more with just five years experience in the United States. In every other country those with over 30 years experience still could not secure salaries over $100,000.